Germany has decided the biggest package of debt in its history. The Bundestag approved a hollowing of the debt in favor of higher defense expenditure and enormous special assets for infrastructure. The enormous package of measures is representative of the departure of the previous budget policy.
On Tuesday, the majority of two thirds required was achieved for this to change the basic law, as Bundestag President Bärbel Bas announced after counting the vote. After that, 513 MPs agreed with Yes, 207 without, there were no dismissal. 489 votes were required for the majority of two thirds. The package was initiated by the CDU and SPD and supported by the greens.
Germany makes debt again
The debt is expanded through three levers: for both defense and civil protection, intelligence services and military aid for Ukraine, the debt is relaxed.
From new debts, the federal government can also set up an output pot of a maximum of 500 billion euros for investments in infrastructure and climate protection. If you use the defense expenditure of a maximum of three percent of the gross domestic product (GDP) annually, extra new fault of the federal government of one trillion euros or more is possible. To illustrate the amount of this insane amount, once here: 1,000,000,000,000 euros …
Moreover, the individual federal states are made possible. In the future, the federal states must be given the right to be able to have a limit of 0.35 percent of GDP.
The real change: now it is being upgraded
There is no more upper limit that means: it can be almost endlessly equipped beyond the debt. Gold times in Germany are probably starting for the armored industry.
This is the result of the fact that these costs above more than one percent of gross domestic product (GDP) no longer fall under the debt brake. In 2024, one percent of GDP corresponded to around 43 billion euros. This also includes military aid for Ukraine. Minister of Defense Boris Pistorius (SPD) recently said that talking about a defense effort of three percent of GDP annually. Based on the GDP 2024, that would be around 129 billion euros per year alone.
In the previous three -hour debate, speakers spoke about different parties of a “historical” decision. Applications of the FDP and AFD to refrain from voting in the old Bundestag and to leave a decision to the new Bundestag were rejected with votes by the Union, the SPD and the Greens.
Federal Council must be again
To get the constitutional change into effect, the Federal Council must also agree on Friday – also with a majority of two files. This majority is very likely that the Bavarian government announced a yes on Monday and the mayor of Bremen emphasized Andreas Bovenschulte (SPD) that he also accepted the approval of his country.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
